topic Re: Chase Professional in Understanding FICO® Scoring

Chase Professional

Anonymous — Thu, 28 Jun 2007 23:22:23 GMT

I opened a Chase Professional CC 3 months ago. It never appeared on any of my reports. Chase says they don't report "Business" accounts to the reporting agencies.

So here's my question. When I re-fi my mortgage in a few months, should I transfer all my outstanding balances to this CC so that my reported utilization shows 0%?

How do the "Business" accounts work?

Re: Chase Professional

Anonymous — Fri, 29 Jun 2007 00:33:42 GMT

Business debts aren't personal debts, so FCRA and FDCPA protections don't apply.

I cannot think of a reason NOT to do it, at least temporarily, for your personal refi, but little voice, back of head, saying no don't do it.

Withholding a final decision for now.

Re: Chase Professional

Anonymous — Fri, 29 Jun 2007 03:12:04 GMT

You are lucky to have this option :-)

Re: Chase Professional

Tuscani — Fri, 29 Jun 2007 03:36:31 GMT

I wouldn't. Keep your business and personal finances separate.

Re: Chase Professional

Anonymous — Fri, 29 Jun 2007 13:22:29 GMT

I don't have a business. I just applied for the card and they gave it to me. It's in my name and I use it like any other personal CC.

Re: Chase Professional

Tuscani — Fri, 29 Jun 2007 18:11:35 GMT

jred wrote:

I don't have a business. I just applied for the card and they gave it to me. It's in my name and I use it like any other personal CC.

Oh, then that makes a difference. Go for it!

Re: Chase Professional

Anonymous — Wed, 01 Aug 2007 02:46:45 GMT

I have a Chase Platinum visa that i've had for about a year. Recently i asked for a credit limit increase but was denied due to two recent paid collections(hospital bills) I was never late on payments on credit card accounts. Shortly thereafter, I received a preapproval for Chase Professional Mastercard. I contacted Chase Bank and they advised that it was a business credit card. I advised that i don't own a business and they said it was ok as long as i dont claim expenses charged on the card on my income taxes. I was then approve for a $5000.00 credit limit. I was disappointed to find out later that this account does not show up on my credit report. But then i realized that i could easily transfer balances from other credit cards(that are reported) to this account to keep my utilization low. It seems strange how a cc company can deny a $500.00 credit limit increase on an account that youve showed a history of no missed payments for a year and then have the same company issue another card with a credit limit of $5000.00. My only complaint is I still continue to get preapproval offers from Chase Bank on the same credit card that they already issued. I guess the marketing department doesn't communicate with the accounts department!